Corporate Property Associates 17 - Global Incorporated is a real estate investment trust launched and managed by W. P. Carey Inc. It invests in the real estate markets across the globe with a focus on United States. The trust is engaged in acquiring, owning and managing portfolio of commercial properties leased to a diversified group of companies on a single tenant net lease basis. Corporate Property Associates 17 - Global Incorporated was formed in February, 2007 and is domiciled in United States.
Corporate Property Associates 17 - Global Incorporated Enters into a Credit Agreement
Aug 28 15
On August 26, 2015, Corporate Property Associates 17 - Global Incorporated entered into a Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A., as syndication agent, and a syndicate of other lenders. J.P. Morgan Securities, LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as joint lead arrangers and book runners. The Credit Agreement provides for a $200,000,000 senior unsecured revolving credit facility and a $50,000,000 delayed-draw term loan facility, with a maximum aggregate principal amount of $250,000,000 and an accordion feature of $250,000,000 subject to lender approval. Loans under the Facilities will bear interest at applicable leverage-based rates in the Credit Agreement. The Facilities are scheduled to mature on August 26, 2018, which may be extended for two 12-month periods by the company. The Facilities will be used for the working capital needs of the company and its subsidiaries, as well as for other general corporate purposes. On August 26, 2015, the company drew from the Revolving Credit Facility to repay its outstanding WPC Line of Credit balance of $25,000,000 in full, and the WPC Line of Credit was terminated.
Corporate Property Associates 17 - Global Incorporated Announces Executive Changes
Aug 10 15
On August 5, 2015, the Board of Directors of Corporate Property Associates 17 - Global Incorporated appointed Mr. Hisham A. Kader as the company's Chief Financial Officer. On the same day, Ms. Catherine D. Rice resigned from her role as the company's Chief Financial Officer; she will remain a Managing Director of the company. Mr. Kader has served as Chief Accounting Officer of the company since March 2012, in addition to serving in various capacities for the company's sponsor, W. P. Carey Inc., including most recently as its Chief Financial Officer. Mr. Kader resigned from his position as the company's Chief Accounting Officer on the same day. Before joining W. P. Carey in June 2011, Mr. Kader served as a Director in the Transaction Services practice at PricewaterhouseCoopers LLP (PwC). To replace Mr. Kader as the Company's Chief Accounting Officer, the Board of Directors appointed Ms. ToniAnn Sanzone as the company's Chief Accounting Officer. Ms. Sanzone has served as the company's Global Corporate Controller since February 2014 and in that position was responsible for the accounting operations of the company, in addition to serving in various capacities for W. P. Carey, including most recently as its Chief Accounting Officer.
Corporate Property Associates Seek Acquisitions
Mar 31 15
Corporate Property Associates 17 - Global Incorporated intends to continue to acquire a diversified portfolio of income-producing commercial properties and other real estate-related assets. They expect to make these investments both domestically and outside of the United States.